Table 7-1
This table refers to five possible buyers' willingness to pay for good Z.

-Refer to Table 7-1. Which of the following is NOT true?
A) the table is the demand schedule for good Z
B) the demand schedule represented by the table shows the willingness to pay of the marginal buyer
C) at a price of $4.00, total consumer surplus in the market will be $9.00
D) when the price is $3.50, each person will have a positive consumer surplus

Question

Table 7-1
This table refers to five possible buyers' willingness to pay for good Z.
 
-Refer to Table 7-1. Which of the following is NOT true?
A) the table is the demand schedule for good Z 
B) the demand schedule represented by the table shows the willingness to pay of the marginal buyer 
C) at a price of $4.00, total consumer surplus in the market will be $9.00 
D) when the price is $3.50, each person will have a positive consumer surplus

Quizplus · Accepted Answer

The Answer of Table 7-1
This table refers to five possible buyers' willingness to pay for good Z.
 
-Refer to Table 7-1. Which of the following is NOT true?
A) the table is the demand schedule for good Z 
B) the demand schedule represented by the table shows the willingness to pay of the marginal buyer 
C) at a price of $4.00, total consumer surplus in the market will be $9.00 
D) when the price is $3.50, each person will have a positive consumer surplus

Table 7-1 This Table Refers to Five Possible Buyers' Willingness to Pay